Caterham adopt crowd-funding plan

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Published: Friday 7th November 2014 by The News Editor

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The administrators at Caterham have launched a crowd-funding project in a bid to get the cash-strapped team on the grid for the final race of the season in Abu Dhabi.

On the day it was confirmed Marussia had ceased trading and made over 200 staff redundant, it is clear Caterham are also now struggling to secure their future.

London-based accountancy firm Smith & Williamson is looking to raise £2.35million from fans around the world to enable Caterham to take part in the season-ending race at the Yas Marina circuit on November 23.

Finbarr O’Connell, administrator and interim Caterham team principal, said: “We are working non-stop to get the team back racing, initially in Abu Dhabi.

“But hopefully that will be just a stepping stone to get it back racing on a permanent basis, under new ownership.

“In order to achieve that one of our most useful, innovative and effective options right now is crowd-funding.”

Published: Friday 7th November 2014 by The News Editor

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